Benzinga | Oct 28, 2021 11:05AM EDT

Geospace Technologies Reports Its Quantum Technology Sciences, Canada Unit Form Joint Industry Partnership With Carbon Mgmt. Canada for Development Of Carbon Storage Monitoring Technologies, No Terms Disclosed

Geospace Technologies Corporation (NASDAQ:GEOS) with its subsidiaries Quantum Technology Sciences and Geospace Technologies Canada announce a Joint Industry Partnership (JIP) with Carbon Management Canada focused on the development of carbon storage monitoring technologies. The partnership features the deployment of SADAR, a seismic acoustic detection and ranging technology originally developed by Quantum for security and surveillance applications.

This JIP will refine and validate the performance of passive seismic technologies for real-time monitoring of underground containment operations. Ensuring stored CO2 can be accurately monitored helps gas storage companies reduce their risk and increase their operational efficiencies.

Industry Leading Research in Application of Passive Seismic Monitoring

"We're excited to welcome the Geospace family of companies to our Joint Industry Project. This collaboration marks the first time that compact phased seismic arrays for carbon storage monitoring will be studied," said Don Lawton, CMC's Director of the Containment and Monitoring Institute and Professor Emeritus at the University of Calgary. "As the world moves forward developing large-scale CO2 storage projects, we'll need passive seismic technologies, like the one being developed by Geospace, to monitor injection operations and help verify secure storage of the CO2."

"CMC's 200-hectare Field Research Station is an ideal environment to evaluate SADAR's ability to cut through noise and produce real-time results through a reduced, more flexible footprint of sensors," said Mark Tinker, CEO of Quantum and SADAR innovator. "After more than a decade of applying SADAR to US federal government applications requiring actionable information, we are anxious to apply it to observing the seismic-acoustic expression of subsurface reservoirs experiencing the injection or extraction of fluids."

Novel Approach to Increase Flexibility and Improve Performance

SADAR's physical design and analytics enhance signal-to-noise, affording more deployment flexibility in accommodating geographic constraints. Its spatial processing improves noise and clutter rejection. The analytic, real-time processing architecture simultaneously operates in the domains of time, frequency, and space in a reductive process that ultimately produces a bulletin of the events observed.

Walter R. Wheeler, President and CEO of Geospace Technologies said, "Since 1980, Geospace Technologies has been an innovative force in the oil and gas industry's global search for more energy reserves. Our company is synonymous with paradigm-shifting approaches to engineering challenges in seismic data acquisition. By integrating Quantum's analytic architectures into our acquisition systems, we are preparing to offer full system solutions for passive seismic monitoring applications in emerging energy markets such as carbon capture and storage, groundwater storage, enhanced geothermal, and steam assisted gravity drainage. By placing the full support of our engineering and software talent behind this project, we send a strong message that Geospace continues to drive innovation in the energy arena."